Markets
Peter Brandt Reveals Key Strategy in Shaky Crypto Market: Details
Tomiwabold Olajide
Bitcoin briefly rose above $70,000 in Wednesday trading before falling
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Amid trading action in the financial and cryptocurrency markets, the veteran trader Pedro Brandt has come up with a nugget of wisdom for those looking to navigate the current volatility.
Brandt, known for his deep insights and decades of trading experience, states a fundamental fact: making money trading is relatively easy; the real challenge lies in maintaining it.
Brandt’s vision derives from years of experience in various financial markets, including the cryptocurrency market. He highlighted that the key to long-term success in trading is not just generating profits, but also preserving those gains. According to Brandtthe implementation of this principle marked an important point of maturity in his commercial career.
The veteran trader highlighted that frequent drawdowns – periods when various assets experience significant drops in value – forced him to make the same profits over and over again. This repetitive cycle of gains and losses underscored the importance of capital preservation. For many traders, especially those who are new to the cryptocurrency market, these declines can be discouraging and lead to a feeling of chasing losses.
However, the ability to manage these periods without allowing them to wipe out hard-earned profits is what separates successful traders from the rest. Brandt’s tip serves as a reminder that trading isn’t just about the thrill of making profits, but also the discipline needed to protect them.
Brandt explains that after a profitable period, the priority should shift from aggressive negotiation to safeguarding accumulated capital. This strategy does not consist of avoiding risk, but rather managing it with greater caution.
Bitcoin briefly rose above $70,000 in trading on Wednesday after the Federal Reserve left interest rates unchanged and signaled that only one cut is expected before the end of the year.
On Wednesday, the Fed held rates steady at 5.25% to 5.50% and said it would cut rates just once later this year, down from the three rate cuts it projected in March.
At the time of writing, Bitcoin was almost erasing its gains and was up just 1.75% in the last 24 hours to $67,928.
About the author
Tomiwabold Olajide
Tomiwabold is an experienced cryptocurrency analyst and technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging estimated market trend forecasts. Tomiwabold graduated from the University of Lagos.